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Guoxin Energy Development (Group) Co

Updated: 2014-02-08

Shanxi province's Guoxin Energy Development (Group) Co, which was founded in 1981, is a large State-owned energy group with various businesses, with gas, coal transportation, and trade as its pillar businesses. Its 2010 income exceeded 10 billion yuan ($1.63 billion) and it joined the Top 500 Chinese enterprises list in 2011, and ranked 409th in 2012. It also ranked 125th among China’s Top 500 service enterprises and 31st among China’s coal enterprises the same year. It has 44 subsidiaries and total of assets of 16 billion yuan.

In recent years, it has worked with low-carbon industries and projects for low-carbon consumption, new types of industrial clusters, and ecological civilization and modern urbanization.

It has an annual coal transport capacity of 50 million tons and holds the rights to 10 billion cubic meters of natural gas and 20 billion cubic meters of mixed gas resources. Its pipelines total 3,004 kilometers in length and it has a provincial gas control center, 60 distribution outlets, 54 compressed natural gas (CNG) filling stations, and a liquefied natural gas (LNG) facility, with an annual capacity of more than 20 billion cubic meters. The pipelines cover 11 cities and 95 counties, with gas services provided for nearly 10 million people in 91 counties in Shanxi.

It has around 80,000 CNG/LNG vehicles to feed 27.7 percent of the province's total number of consumers.

For its development, the company says it will follow a low-carbon, high-carbon-energy path to help major industries and projects to contribute to Shanxi's gasification strategy, with a unique approach to ecological civilization.

It is working to have 30 billion yuan in sales and 500 million yuan in profits by 2013 and wants to be top in the province in per capita benefits, per capita profits, per capita incomes, and happiness and will make every effort to have sales of 70 billion yuan and profits of 1.38 billion yuan, during the country's 13th Five-year Plan (2016-2020) and a prosperous future.

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